Internal Auditing

As the Deloitte ERS team, we offer extensive and customized internal auditing services based on client needs.

Internal auditing is an objective assurance and consulting activity designed to add value and improve an organization's operations. It can help an organization accomplish its strategic objectives by bringing a systematic, disciplined approach to evaluating and improving the effectiveness of risk management, control, and governance processes.

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Internal control is defined as a process that covers specific auditing services such as assessments of internal control design, efficiency, performance and capacity and recommendations on areas needing improvement, all implemented in line with regulations and requirements and in order to improve operational efficiency and financial statement accountability. Internal auditing services are either performed as a limited and one-time-only internal audit engagement focusing on identified areas or as regularly implemented internal audit engagements that are in keeping with a risk-based plan.

Competent professionals of our firm are in a position either to outsource the internal audit function or work under co-sourcing arrangements along with the company’s internal auditors.

Deloitte Turkey supports its clients in setting up an internal audit function within their companies by drawing up internal auditing rules and procedures. This service also includes determining the position of the internal auditing department within the company, setting out internal auditor competencies, the principles of professional development, powers and responsibilities, as well as identifying the basis of internal auditor practices and reporting.

During the establishment of the internal auditing department, we ensure that clients set up a well-organized and standardized internal audit function in the light of the requirements of International Internal Auditing Standards.

Setting up an internal auditing department

Quality assurance assessment is a strategic review of an internal auditing department in terms of compliance with International Internal Auditing Standards and the adoption of "best practices."

In this context, companies are required to undertake the following:

· Set up an effective and high-performing internal audit function

· Provide feedback on the expectations of the auditing committee and management related to internal auditing

· Perform quality assurance reviews at least once every five years in order to comply with International Internal Auditing Standards

Our quality assurance reviews also include evaluating worksheets, the internal auditing rules and regulations, procedures, risk assessment and planning documents, HR procedures such as job descriptions and performance evaluations of internal auditors, training programs, and internal auditing methods and reporting. In the review, existing procedures are compared with best practices as well as internal audit units in similar organizations.

Deloitte refers to one or more of Deloitte Touche Tohmatsu Limited, a UK private company limited by guarantee (“DTTL”), its network of member firms, and their related entities. DTTL and each of its member firms are legally separate and independent entities. DTTL (also referred to as “Deloitte Global”) does not provide services to clients. Please see www.deloitte.com/about to learn more about our global network of member firms.